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Govt planning to launch lottery offer under the GST from 1 April

March 2, 2020

[Source: www.livemint.com] We had earlier shared you a news item (Economic Times) that India should adopt Singapore’s ‘GST voucher scheme’ to help lower, middle income groups. It seems the government is planning to adopt the idea. The government is planning to launch lottery offer under the Goods and Services Tax (GST) from April 1 by conducting lucky draws every month

Income Tax

How Cryptocurrencies Are Taxed In India

[Source: forbes.com; Authors: Justin M Bharucha, Aashika Jain] Cryptocurrencies and non-fungible tokens (NFTs) are presently unregulated in India. While the Reserve Bank of India (RBI) had sought to ban cryptocurrencies in 2018, the Supreme Court quashed the attempted ban leaving cryptocurrencies in regulatory limbo – neither illegal nor, strictly speaking,

Only 329 startups can claim tax holiday under Startup India

[Source: cnbctv18.com] Exactly five years since the launch of the Startup India

New modus operandi by traders to evade VAT duty

The Gujarat commercial tax officials have unveiled a new modus operandi to

Common return for service tax, excise duty on back burner

January 7, 2014

Service Tax & CBEC

Common return for service tax, excise duty on back burner

Income Tax department reveals top 10 assessees in all categories

December 2, 2013

Income Tax

New Delhi, Dec 1: Directors of Kamal Sponge Steel and Power Kamaljeet Singh Ahluwalia and Prashant Ahluwalia, both facing CBI probe in coal scam, are in the list of top 10 Income Tax assessees in the ‘Individual’ category for 2011-12, according to an RTI reply. The I-T department data shows

Goods, Services Tax Bill unlikely to be passed in winter session

November 11, 2013

GST·Gujarat VAT & CST·Service Tax & CBEC

Goods, Services Tax Bill unlikely to be passed in winter session

From Oct, service tax to make LIC policies pricier

July 13, 2013

Service Tax & CBEC

From October, LIC policies will cost more. Life Insurance Corporation, which accounts for 83 per cent of the market share, will levy service tax of around 3 per cent on all non-unit-linked products beginning October 1. This means if the annual premium for your money-back policy from LIC is Rs

Even as India grapples to get States on board for GST, US Senate Passes Internet Sales Tax Legislation

May 13, 2013

Gujarat VAT & CST

[Source: www.accountingtoday.com; Author: Michael Cohn] The Senate has approved legislation requiring online retailers to collect sales taxes from Internet sales, even if they don’t have a physical presence in the state where the customer resides. The Marketplace Fairness Act has attracted wide support from brick-and-mortar retailers who have seen shoppers

FATCA is a `fatka’ for NRIs

April 26, 2013

Corporate Laws·Income Tax·RBI & FEMA

US may soon get a leash on Indian financial institutions Imagine this: Having moved to the US on a work visa, you have become a taxpayer there. But you have not closed your savings account with State Bank of India and a demat account with its subsidiary. Both you and

Income Tax department to ‘name and shame’ habitual tax evaders

April 15, 2013

Income Tax

The Income Tax department has decided to name and shame "chronic" tax defaulters by publicising their names and addresses. It is in the process of finalising the procedures of compiling the names and cases pertaining to habitual tax dodgers and subsequently uploading them on its website. "The department would upload

Highlights of Companies Bill, 2012

January 29, 2013

Corporate Laws

[By Anish Shah (CS), A. Shah & Associates] On 18th December, 2012 the Companies Bill, 2011 had been passed by the Lok Sabha. However, it was passed with certain modifications as recommended by the Parliamentary Standing Committee on Finance. The Bill seeks to consolidate and amend the law relating to

Tax reforms: stage set for GST deal

January 28, 2013

GST·Gujarat VAT & CST·Service Tax & CBEC

Panel recommends states be allowed to time their entry; formula proposed for CST compensation The recommendation, largely in line with the demand from states, would be subject to a final nod from finance minister P. Chidambaram. Photo: AFP New Delhi: The centre and states are poised to strike a compromise

Conclusions of the First OECD Global Forum on VAT

November 19, 2012

Gujarat VAT & CST

12/11/2012 – First OECD Global Forum on VAT confirms the need for an international standard on the VAT-treatment of international trade Countries around the world need to agree urgently on a global framework for the application of Value Added Taxes (VAT; also called Goods and Services Taxes, GST) to international

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News - Page 4

Govt planning to launch lottery offer under the GST from 1 April

How Cryptocurrencies Are Taxed In India

Only 329 startups can claim tax holiday under Startup India

New modus operandi by traders to evade VAT duty

Common return for service tax, excise duty on back burner

Income Tax department reveals top 10 assessees in all categories

Goods, Services Tax Bill unlikely to be passed in winter session

From Oct, service tax to make LIC policies pricier

Even as India grapples to get States on board for GST, US Senate Passes Internet Sales Tax Legislation

FATCA is a `fatka’ for NRIs

Income Tax department to ‘name and shame’ habitual tax evaders

Highlights of Companies Bill, 2012

Tax reforms: stage set for GST deal

Conclusions of the First OECD Global Forum on VAT

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